TODAY’S EDITORIAL: Officials should push for trade deals with US
Because of intensifying competition between China and the US, American officials have been reaching out to the Philippines to deepen security cooperation. For its part, the Philippines wants to develop a minimum credible defense, and to do that, the country needs a stronger economy.Of course, the Philippines is getting something for allowing the American military access to more local bases under the Enhanced Defense Cooperation Agreement .
Ironically, the US is the third-largest trading partner of the Philippines, after China and Japan. Bilateral trade is about $19.64 billion, which is slightly in favor of the Philippines. The US is the second-largest export market of the country and its fourth-largest source of imports. As good as that sounds, bilateral trade relations could be even better.Boosting investmentsAnother aspect of Philippine-US ties that is already good but can also be improved is in investments.
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